Point that is black and white, our Board diluted our holding by 25% at an all time low, this allowed ii's and the same board to take stock at that price, I for one still need convincing this was a good deal for all holders not just a chosen few.
Adonis showed his hand but was it just to average down or a vote of confidence in things to come ?
they do not exist to protect the identity as an objective.
however that is not to say it doesnt happen
nominee accounts were first and foremost there as the best vehicle for investors to hold shares without having to handle the paperwork.. consequently making transactions easier amongst many other things...
If they were there as a principle to hide NET increases in holdings they could be used as vehicles for hostile takeovers.
nonetheless if you see larger holdings then you see them..and you are right that this could hide a true picture.
However, have a simple google of yf and merdian... at some points in recent times they have jointly and publicly held between them up to 25% of shareholdings in invested businesses o&G ...that's publicly..no need to hide. as Helios chariot has a passage on this too, but with a different angle, similar to Pegs.
mcnifige re RNS, I don't think its acreage, however it's spun. I thought it might be a takeover of GBP, given the interest in that area (their efforts to retain the license and the mentioned ww1 data) , but given they (GBP)cant raise squat I dont think 4 million is going to advance the business much. Just felt the only prospect worth shooting their mouth off about ( apparently to raise money) would have had , immediate drill status or revenue. "Drilla has gone quiet he seemed to be on the cusp of telling us something" .....(or perhaps Char are helping repsol re-calibrate their supercomputer) ...if it's acreage - I'm out.... best to trade up my own assets elsewhere... although I will return ..
MR re Brazil - they have booked their seat on the ship, it's just I believe the ship activity/timetable is driven by maxing it's revenue and that timing is in the hands of the gods ( or others spending the money to utilise it's full capacity) ..maybe it's a bit like booking seats on a budget airline - everyone pays different prices depending on timing, but it flies at the same time - according to larry our timing saved us about 50%. Not fussed about the seismics though - the lead time is so long...
BF - more 3D in Namibia ( or did I pick you up wrong?) is that really an opportunity "not to be missed" - if you look at Mosman with Trident, that's a deal not to be missed - I expect similar and yes probably in namibia. CHAR reckon they have the IP on regional data though ( including ww1 - which must frustrate TRP holders as some think it's still a tight hole!" ) what could you do with this to realise value that requires investment?
I guess until the reality of the "mystery deal" is delivered ... I will remain sceptical- pity though as in the round the original assets did look promising...
On the basis of what they have said already, they will emphasise that the 3D work they have done makes the acreage look extremely attractive - as does Tullow's technical discovery next door. I'm working on the basis that the real reason for the placement was because of Namibia-related factors. Maybe they'll have to contribute to a lot of 3D work over those other giant prospects in the centrals.
If you google Standard Life and Vidacos Nominees it is clear that Vidacos Nominees often holds shares for Standard Life - they are frequently declared as agent/holder on the same declaration notice. YF and Vidacos also seem to crop up together with remarkable frequency. I suspect the Standard and YF/Meridian holdings are within the various Vidacos Nominee accounts, so it's not Citi holding directly.
Exists to protect the identity of the owner if the shares. They include II's and PI's. Chariot have told us many II's have bought in - we will not know until they disclose. We do know that Citigroup were at 6m and now at 18m. If it is now all PI's I would be very surprised. I cannot see YF finance or meridian capital or standard life - which nominee account are they hiding behind? I can see Paul welch and James burgess - two former ceo's
No surprise with the RNS as they tend to be very dull and never highlight the positives in enough detail..
It will be interesting how the present the new venture when it is announced, could be any of the following..
" we are pleased to announce we have secured more acreage in Mauritania, this acreage will give us better options in this country "
" we are pleased to announce we have secured some exciting new acreage in Mauritania, this acreage will give us better options in this country and we feel acquiring this acreage will increase the value of our portfolio . We are very excited with the potential of this asset and we feel this substantially increases our chances of a discovery in this country ."
I've been asking for some other clarification as well - Larry stated some of the funding was needed for 3Ds in Brazil as a better price was offered but this doesn't appear in the RNS just acceleration of 3Ds ? If the price was the deciding factor what was the difference and why is it not shown in the placement RNS.
Maybe but to state ownership by a Specific business at a specific level is guessing.
Large value blocks in nominee accounts are just as likely to be Pi. From HNW individuals.
Not that I want to take anything away from Pegasus research , its nice to see ... I still think PI have a significant shareholding .
What I say isn't going to make sense or perhaps have a point it's just a comment ...and its a bit off topic here..but placing 25pc of shares into ii. Hands seems sensible tactically if you want to change your holdings structure , particularly if your PI community are disgruntled ... Maybe there is no game changing deal and it was a ruse to adjust this risk...maybe not .. Who knows...but from a "corporate " perspective its a lot tidier.
separate question , they stated on the PI call that funds from the farm in were delayed , hence the working capital tie up, when was it they said it was delayed until?
Whenever it is, this means that they expected the date of the mystery transaction to happen before then... Just curious on that window.
One of you questioned them on this specifically - it was an excellent question .. Which was met with waffle from recollection and then a vague estimate of date. ( no change there then)
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.